Hey welcome back, this is Dave Espino and today I want to discuss how much time you should invest when creating a passive income.
How Long it Takes Me
The quick answer is how many passive income streams do you want? Right? Because for me it takes me about 6 to 8 hours to create one online course and I use online courses to create passive income. Let's just say it takes me one full working day in the typical 9 to 5 model to create an online course.
Well I could hypothetically create a course every single day. Right now I don't do that because part of the work is creating the online course and then part of it is publishing the course and maybe doing a little bit of initial marketing to get the course launched. In general I could conceivably create at least an online course every week, and I've been on paces like that where I've actually done that.
In fact, one week I created five online courses. This was back in November of 2015 I believe, and it was amazing. It gave me a great income boost.
How Much Passive Income Do You Want?
So if you're in the online course business, the question should be “how many online income streams do I want?” Because really the sky's the limit. When you know how to create an online course that's like having your own superpower. You could create online courses about any kind of topic and you don't have to be an expert to do that. You could research out your course topic and create a course based on your research. You could create a beginner's course and create a course that only takes care of the newbies in that business, right? So you don't have to be this end all be all expert, or the world's leading authority on this topic.
That's not the case. All kinds of people can learn from you. Even if you create a beginner's course on a topic. Let me tell you some of the 60+ courses that I've created I was not an expert on, and yet people are getting tremendous value from these courses. They're giving my courses high ratings and they continue to buy my courses, and the reason is that it's a well put together and teaches them what I promised to teach them for that.
You don't have to be the world's leading authority. So back to the question, how much time should I dedicate to creating passive income? It really depends on how much passive income you want. Alright, so I hope you enjoyed this article and I'll see you next time.